Recently, payment solutions provider GHLSYS entered into an agreement with Global Payments Card Processing Malaysia to facilitate payment and provide payment service to the latter. GHLSYS’s share price has broken up from its “Flag Pattern” to close at RM0.825 (+6.0 sen) backed by strong buying interest. Uptrend looks positive as the share price is currently trading above all key SMA levels while key indicators (MACD, Stochastic Indicator and RSI) are trending positively. Thus we advocate day traders who look to ride on the fresh positive sentiment to buy into the stock at current level, with expectations that the share price will rally towards our “Flagpole” measurement objective target price of RM0.89 in the near-term. Strict stop-loss is placed at RM0.79 which is 2 bids below its immediate support level of RM0.81 (S1).

Source: Kenanga